FAO, food prices +1.1% in March, first increase in 7 months - Agricultural World. The prices of food raw materials mark the first increase after seven months of declines.
However, the prices of cereals fell by 2.6% (-20% compared to March 2023), due to the strong competition in exports, as well as those of rice (-1.7%) and sugar (-5,4%). On the cereals front, based on the latest supply and demand report, FAO raised its 2023/24 production forecast to 2,841 million tonnes.